This article first appeared on GuruFocus. J.P. Morgan says the Magnificent Seven's painful valuation reset may be largely complete, potentially removing one of the biggest headwinds that has weighed on mega-cap technology stocks. Equity strategists led by Mislav Matejka said the group's 12-month forward price-to-earnings multiple relative to the broader market has fallen to around one standard deviation below its historical median and now sits at a 10-year low. Is AAPL fairly valued? Test your thesis with our free DCF calculator.
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